Seasoned Workers Productive, in Demand

Thursday, June 13, 2013

New research suggests that older workers – between the ages of 65 and 74 – are being better compensated than their younger counterparts. These seasoned workers are attractive to companies because of their skills and expertise, says Witt/Kieffer president and CEO Chuck Wardell in a recent Fox Business article. “People who want to work and are still active and have skills and experience are wanted by these companies,” Wardell says. “It’s not some kind of charity—they keep them on because they perform exceedingly well.”

Hiring older workers can be expensive - due in part to rising healthcare insurance costs – but it’s a trade off for their experience. “It’s an incremental price to pay for corporations, because they don’t have to pay to train them or get them up to speed,” he says. “They have contacts and friends in the industry, and [the company] doesn’t have to have an end game.”